Indian Stock Trading Tips & Updates

The market edged lower on Monday, resuming its downtrend after a recovery on Friday. Domestic shares mirrored weakness in other Asian shares ahead of US Fed’s policy review starting on Tuesday. The Nifty closed below 11,200 for the first time since 15 May 2019.

 FIIs have continued to sell extensively in the Indian markets after the Union Budget 2019-19 announced levy of surcharge on them. Weakness in auto stocks put pressure on indices.

Global Markets

Heineken NV shares fell the most in almost four years after the world’s second-largest brewer reported first-half earnings growth that almost ground to a halt. European shares recovered from early losses on Monday, fueled by a surge in the London Stock Exchange Group on its potential deal to buy financial data firm Refinitiv, while investors waited anxiously for an expected U.S. interest rate cut.

Stock Snippets

State Bank of India (SBI), has, because of the falling interest rate scenario and surplus liquidity, realigned its interest rate on Retail Term Deposits (less than Rs2cr) and Bulk Term Deposits (Rs2cr & above) w.e.f. August 1, 2019.

PNB Housing Finance Limited has raised $100mn from International Finance Corporation, a member of the World Bank Group, for on-lending to buyers in affordable housing projects.

Shares of Indiabulls Housing Finance tanked about 7% to a one-month low on the NSE. The stock fell after Subramanian Swamy accused the company of embezzling funds from the National Housing Bank, which regulates mortgage lenders.

Cadila received Form 483 with zero observations from USFDA for its API manufacturing facility at Ankleshwar.

Granules India’s Bonthapally facility at Hyderabad, Telangana completed the USFDA inspection with one 483 observations.

NHPC’s Resolution Plan for its Lanco Testa Hydro Project has been approved by Hyderabad’s NCLT bench.

Global Markets

Global shares eased on Monday and the dollar hit a two-month high against a basket of currencies as markets counted down to a likely cut in U.S. interest rates this week.

Japan stocks were lower after the close on Monday, as losses in the Paper & Pulp, Railway & Bus and Real Estate sectors led shares lower. The Nikkei 225 lost 0.37%.

Australia stocks were higher after the close on Monday, as gains in the IT, Telecoms Services and Healthcare sectors led shares higher.The S&P/ASX 200 added 0.48% to hit a new 5-year high.

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